Why are my 710 HBOS shares now only 430 Lloyds Banking group shares?

Question

If shares from HBOSplc were transferred to Lloyds TSB shouldn't the same amount of shares still be there? Instead of the 700 I had, there is now only 430. I feel as if I've been robbed!. To top it all, I was sent a letter in June/July asking me to buy shares in HBOS, I did so, at a loss, I paid £500 for 200 shares and now they are gone. I feel totally conned!!

Answer 1

Lloyds bought HBOS out. You sold your 700 HBOS shares to Lloyds in return for 430 Lloyds shares. In theory that was a fair swap - ie 430 shares in the new Lloyds should have been worth the same as 700 HBOS shares when the agreement was made.



As a shareholder you, in theory, agreed to this sale. However, in practice your 700 shares were a tiny percentage of HBOS. The law allows the minority to be bought out even against their will provided a significant majority agree - I think it needs 75%.



I assume that the 200 shares you bought in July are part of the 700? If not something strange seems to have happened. Either way, when dealing with shares you must always remember: the value can go down as well as up.

Answer 2

HBoS shares where valued less that Lloyds shares and it was Lloyds that purchased HBoS - you should have the same amount of value in Lloyds shares as you did in HBoS shares the day Lloyds purchased them.

Answer 3

HBOS was bought up by lloyds plc

Answer 4

i had 4,300 in hobos now i have 3,233, i only have a old cert aswell from 2010, i have prefernce shares also there same ammount i am trying to get into my online account with no luck i just wish to vire them todays ammount incase its gone down again and you never hear from them i do on prefernce shares still get dividends but not the nrmal hares no info at all since 2010